Bearish technicals cement $45k Bitcoin target, warns strategist
Bitcoin faces renewed downside pressure as Michael Purves of Tallbacken Capital Advisors doubles down on a $45,000 target after fresh bearish signals: a sequence of MACD sell signals and the completion of a head-and-shoulders pattern with a neckline near $76,000, a break beneath which could trigger forced deleveraging. The $76k neckline also aligns with the strategy’s average cost of acquisition, underscoring the risk of further downside as the crypto slides to its weakest levels in months.
